Mexican Pharma Companies Represent Second-biggest Manufacturing Sector

Mexico is becoming an increasingly important emerging market for global pharmaceutical firms, according to research conducted by industry chamber Canifarma.

Mexican pharmaceutical companies now represent the country's second-biggest manufacturing sector, research has found.

An analysis by industry chamber Canifarma shows that the sector has projected annual sales of 195.20 billion pesos (US$14 billion) this year.

This means it ranks second among the country's manufacturers, behind the automobile industry.

According to Canifarma's research, pharmaceuticals account for 7.2 per cent of Mexico's manufacturing GDP and 1.2 per cent of overall GDP.

Around 2.5 billion units of medication are sold each year and the size of the country's population - more than 112 million